For 10 points...
Mexico
became a mixed economy by producing industries, such as oil, and
producing agriculture. For many years Mexico followed a policy for
economic nationalism. This meant that the government imposed high
taxes to keep local industries well protected. By the 1960s, Mexican
factories began producing cars, and many necessities of life, such as
refrigerators. In 1974, oil reserves were found in Mexico and helped
them to modernize their industries. Mexico also allowed free trade,
which is that has low taxes and no restriction. |
